Tesla stock continues to crater as Elon Musk goes further down Twitter rabbit hole
The IndependentSign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares in Tesla plunged by more than 8 per cent in early trading on Tuesday as Elon Musk’s erratic Twitter ownership appeared to weigh heavily on the electric vehicle maker. Investors and analysts have blamed Tesla’s abysmal 2022 performance on Mr Musk’s protracted takeover of Twitter and pointed to his embrace of far right conspiracy theories as turning off many potential customers. Tesla stock has fallen precipitously since CEO Elon Musk’s takeover of Twitter “Musk is viewed as ‘asleep at the wheel’ from a leadership perspective for Tesla at the time investors need a CEO to navigate this Category 5 storm,” Wedbush Securities managing director and longtime Tesla bull Dan Ives wrote in a research note last week. Mr Musk has sold $22.9bn worth of Tesla stock since April to fund his takeover of the social media company.